While the company did not provide explicit guidance for the full year at last week’s annual general meeting, management reiterated expectations for positive revenue and profit growth. UBS is forecasting earnings growth of 8 per cent for the full year to June.

Trading conditions remain strong and the company is posting positive organic growth, with UBS expecting the UK Bribery Act, the development of the ANZ mortgage settlement services platform and Food Safety services to be growth drivers in the medium term.

UBS analysts suggest that the company is an attractive candidate for corporate action, particularly given its market-leading position within assurance and compliance services in Australia and ongoing strong demand dynamics globally.